He characterized the shooters as some MAGA whatever and he was presenting is a sure thing, which it still wasn't clear and it looked pretty iffy and not in line with any common sense.

FCC has and had for many years restrictions about what can be broadcast.

See https://www.fcc.gov/media/radio/public-and-broadcasting#JOUR...

> The broadcast by a station of false information concerning a crime or catastrophe violates the FCC's rules if:

> The station licensee knew that the information was false;

So we have a 1) a crime that was committed 2) misinformation

The show runners should have fought it and say that they didn't know it was false. But then now the are fighting this uphill battle having to say "hey, Jimmy's show is totally a parody, not news everyone knows that, a staffer fed Jimmy some social media quotes, whatever". At that point it's kind of a bad look anyway, so the owners decided to just shut it down.